Catalyzing Green Projects and Market Growth
The EBRD’s US$ 100 million (€86.4 million) investment is part of a larger green bond issuance by DenizBank, which totals approximately US$ 270 million (€233.2 million). The funds raised will be strategically allocated to a diverse range of private-sector green projects. These include initiatives in renewable energy, energy efficiency, and the development of green buildings. The investment is aligned with DenizBank’s Sustainable Finance Framework, which adheres to the International Capital Market Association’s Green Bond Principles. This particular issuance is part of DenizBank’s broader commitment to green finance, with total green bond issuances reaching approximately US$ 350 million (€302.3 million) across various tranches.
A Partnership for a Sustainable Future
This collaboration between the EBRD and DenizBank is more than just a financial transaction; it’s a powerful signal of commitment to sustainability. By participating in this issuance, the EBRD aims to stimulate the growth of Türkiye’s burgeoning green bond market and attract further international capital. The initiative also seeks to encourage other Turkish banks to expand their sustainable lending portfolios and adopt similar innovative green finance products. Oksana Yavorskaya, the EBRD’s Deputy Head of Türkiye, highlighted this partnership, stating that the project is a “strong example” of the EBRD’s support for partners leveraging diverse funding instruments to achieve their green ambitions.
DenizBank’s Vision for a Low-Carbon Economy
Bora Böcügöz, Executive Vice President of DenizBank’s Treasury, Financial Institutions and Investment Group, emphasized the bank’s corporate priority of producing financial solutions that support both economic development and environmental sustainability. He noted that the green bond issuance is crucial for channeling resources into the investments needed for Türkiye’s transition to a low-carbon economy. The bank is providing long-term financing to projects that actively mitigate climate change risks, and Böcügöz affirmed their commitment to integrating sustainability into all of their financial products and services. The EBRD has a long-standing history of being a key investor in Türkiye, having committed over €22 billion through 495 projects since 2009, with the majority of these investments directed toward the private sector.
